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Foundry Finds Itself in a Jam

Areas of concern include pricing pressure in several of Foundry's businesses and a soft demand environment in metro routing and switching, says First Global US Research.

Updated Aug. 18, 2004 11:59 p.m. ET

Foundry Networks (FDRY: Nasdaq) By First Global US Research ($8.93, August 17, 2004)

FOUNDRY NETWORKS REPORTED revenue of $97.8 million during the second quarter, as compared to its guidance of $105-110 million. The shortfall was attributed to the heavy back-end loaded quarter. Management has explained that in the absence of these issues, the company would have achieved revenue in line with its guidance and would have still exited...